STORY: Chinese e-commerce platforms are offering discounts of up to $351 on Apple’s latest iPhone 16 models.
It’s in an effort to spur sales after first-quarter shipments by the U.S. tech giant fell further in its second-largest market.
The step comes as Chinese online retailers increasingly vie for cost-conscious consumers in a slowing economy.
The price cuts are taking center stage ahead of the annual “618” shopping festival on June 18, one of the country’s largest.
JD.com is one retailer selling the iPhone 16 Pro at a knocked down price, as is Alibaba.
Reuters was unable to ascertain if the discounts were being offered by Apple itself or the platforms
Selective discounting has featured in the company’s China pricing strategy.
The U.S. tech giant’s smartphone shipments in China dropped 9% in the first quarter.
While domestic competitors Xiaomi and Huawei posted gains of 40% and 10% respectively.
Smartphones are among the key targets of China’s broader consumption stimulus plan.
With local governments in major cities offering subsidies of up to 500 yuan, or around $70, for some handsets.